It took Anil Yadav about 30 years of being a franchisee (plus one global pandemic) to decide he was ready to become a franchisor. 

In 2020, he was one of the largest multi-unit franchisees for Jack in the Box, TGI Fridays, and Denny’s. Then, as his full-service restaurants sat closed and dark during COVID, he watched as other brands thrived through a spike in drive-thru sales. He wanted in on those margins — so he decided to buy an entire franchise: He acquired Taco Cabana, a Mexican brand with 140 locations that had been around for more than 40 years.

Then he kept going. His company, Yadav Enterprises, is now also the franchisor behind the Mediterranean concept Nick the Greek, with more than 90 restaurants, and Del Taco, which has 600 open locations. Most recently, he worked with TriArtisan Capital and Treville Capital Group to complete a $620 million acquisition of Denny’s.

Here, he talks about his earliest franchise lessons, and how he makes strategic decisions.

You immigrated to the U.S. from India as a teenager, and started working as a fry cook at Jack in the Box. What happened from there? 
I worked my way up to become a manager, and then Jack in the Box was looking for franchisees. Friends and family helped me buy my first location at age 24. I more than doubled revenue from $850,000 to $2 million. 

The franchisor will give you the system. The biggest part from there is execution. You must give guests what they come in and pay for: hot food, in a timely manner, in a clean environment. That drove repeat business.

What was your biggest challenge in evolving from a franchisee into a franchisor?
Shifting the mindset. As a franchisee, you focus on your store. The franchisor sets expectations, and you follow. Evolving meant becoming responsible for the strategy, the philosophy, the vision. You have to understand what makes the brand successful, and how to do better.

What made you choose the brands you now own as a franchisor?
Taco Cabana’s drive-thru business was booming. And it’s been there for 40 or 50 years. It was a good brand, and Mexican is a good space. The Del Taco acquisition strategically fit our platform because it’s based in California — a different market from Taco Cabana, which is based in Texas. There was synergy in the philosophy and fundamentals between the two. We could learn from each brand — the strengths and weaknesses. 

Nick the Greek was just a great concept in a space that’s exploding. It’s a simplified version of Mediterranean food, and it doesn’t have much competition. We bought it about three years ago at 44 restaurants, and we have almost 100 now, with another 35 slated to open in 2026.

Denny’s is everywhere. It’s been in the space for 60-plus years. It’s an iconic American brand. After the pandemic, these kinds of restaurants had new challenges, but they also have opportunities to grow in new ways with technology. 

How will you use technology to grow the Denny’s brand?
Denny’s is still using a pad and taking orders. We’re looking at handheld technology, so [servers] don’t have to write. We’re looking at the app, curbside pickup. We have to stay in our lane and find the perfect niche that works for each brand, and then focus on getting it done. We’re going to move this brand back to greatness.

What is your advice for people who are wondering if they, too, could become franchisors?
People want to take the lead and do it, but they are held back because they’re fearful of the unknown. I think if you believe in something, and you have confidence that you can learn, make the decision to take it to the next level. I don’t think you will get anywhere if you sit back.

It took Anil Yadav about 30 years of being a franchisee (plus one global pandemic) to decide he was ready to become a franchisor. 

In 2020, he was one of the largest multi-unit franchisees for Jack in the Box, TGI Fridays, and Denny’s. Then, as his full-service restaurants sat closed and dark during COVID, he watched as other brands thrived through a spike in drive-thru sales. He wanted in on those margins — so he decided to buy an entire franchise: He acquired Taco Cabana, a Mexican brand with 140 locations that had been around for more than 40 years.

Then he kept going. His company, Yadav Enterprises, is now also the franchisor behind the Mediterranean concept Nick the Greek, with more than 90 restaurants, and Del Taco, which has 600 open locations. Most recently, he worked with TriArtisan Capital and Treville Capital Group to complete a $620 million acquisition of Denny’s.